Klaveness Combination Carriers (KCC) delivered higher Time Charter Equivalent (TCE) earnings per on-hire day than standard market rates in Q4 2024, the company reported: despite weaker product tanker and dry bulk markets
Klaveness Combination Carriers (KCC) delivered higher Time Charter Equivalent (TCE) earnings per on-hire day than standard market rates in Q4 2024, the company reported: despite weaker product tanker and dry bulk markets in late 2024 and early 2025, KCC reported an EBITDA of $20.2 million and an Earnings Before Tax (EBT) of $8.6 million for the quarter.
KCC operates a fleet of 16 combination carriers designed for transporting both wet and dry bulk cargoes. These vessels optimize efficiency by minimizing ballast voyages and capitalizing on trade imbalances, positioning KCC uniquely within the shipping industry. CEO Engebret Dahm highlighted 2024 as a historically strong year for KCC, with fleet-wide TCE earnings surpassing product tanker earnings in what was an exceptional year for that sector. KCC achieved TCE earnings of 1.5 times that of product tankers and 2.6 times that of dry bulk, showcasing the efficiency of its combination carrier fleet. Although earnings declined in Q4 due to challenging market conditions, Dahm expressed confidence that the company’s efficient trading strategy will continue to generate premium earnings in 2025.
Market Overview
The decline in earnings from Q3 to Q4 was mainly attributed to lower CLEANBU TCE earnings and increased off-hire days
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